Square launches new contactless chip reader in Canada for $59

Square founder and CEO Jack Dorsey leads a roundtable of Canadian entrepreneurs during the launch of the Square readerBy Gadjo Cardenas Sevilla

Toronto- Payments innovator Square held an event this morning in downtown Toronto where they launched a new contactless reaer for local businesses to take debit and credit payments. Designed in part by hardware engineers from Toronto's North York office, now allows businesses to acceot various ways to pay including Interact as well as Apple Pay, Android Pay and Fitbit Play.

The new reader allows customers to tap their cards, mobile devices or wearables to make a payment securely in seconds.

"Businesses of all sizes should have access to technology that can help them succeed-starting witha ffordable, quick and easy wat to accept more ways their customers want to pay," said Jack Dorsey, CEO of Square. "We believe everyone should be able to participate and thrive in the economy, and by leveling the playing field for local businesees, we can shorten the distance between having an idea and making a living from it."

"We are focused on providing hardware and software that focuses on popel so the hardware and software goes away," Dorsey explained adding that Square has aimed to offer business owners the most comprehensive payments terminal solution at the best possible price. The addition of being able to take Interact debit transactions was one of the biggest desired by Canadian entrepreneurs.

The contactless chip reader is available for order at Square Shop for $59 with no contracts or monthly fees, levels the playing field for sellers. "To celebrate the launch, we are waving transaction fees on debit for all new and existing Square sellers through the end of 2017," Square said in a release.